Common Myths About Accounting

The world of accounting, much like any profession, can be complicated and confusing. But for the most part, it is relatively simple and easy to follow. Regardless, that hasn’t stopped the industry for earning a less than stellar reputation of being hard and boring. This misconception of complexity and monotony can hinder not only accounting itself, but those who desperately need an accountant to assist with financial needs. So, in everyone’s best interests, I have decided to dispel some of the most common misconceptions and myths surrounding accounting.

Large Companies Need Accountants

One of the more prevalent myths surrounding accounting is that small to medium-sized businesses don’t actually need accountants; most people believe that accountants are only necessary for the mega corporations of the world, like Apple, Coca Cola or Mercedes-Benz. This couldn’t be further from the truth. This is, quite honestly, the most perplexing myth to me. Any business that exists in any capacity absolutely needs to have finances, budgets and other financial necessities managed and handled; this is what accountants do. If you are a small to medium-sized business owner who does not have an accountant or does not handle the accounting yourself, it is crucial that you hire one immediately.

It Isn’t Worth the Money

Accountants and accounting firms are usually not terribly overpriced. Obviously, the price they charge is based on the type and amount of work that is performed, however, in most cases it’s pretty affordable. And if you are still hesitant, consider this: the amount of money you would pay for an accountant to ensure that all of your finances are in order is far cheaper than the price you’d pay for having the IRS audit your unmanaged finances.

Accountants are Boring and Socially Awkward

As an accountant, I can tell you from experience that accountants are not all boring and socially awkward. In fact, they are usually the exact opposite. Accountants, like most other professionals, have clients, and we must have social skills and interact with our clients on a fairly regular basis in order to ensure the best possible work. This myth stems solely from the assumption that accounting is boring and therefore any person who works in accounting is also boring. This is simply not true.